But what about copper ?

[cdcaveman]

Quote from syswizard:

Dec contract: 3.44 close.
4 cents away from key support level.
Anyone buying down here ?

Floor is gonna fall out in the next week or so.. anyone would be stupid to by here imo

 

[syswizard]

Quote from cdcaveman:

Floor is gonna fall out in the next week or so.. anyone would be stupid to by here imo

Ah....forget the technicals ?
We are looking at recession then ?

 

[cdcaveman]

Quote from syswizard:

Ah....forget the technicals ?
We are looking at recession then ?

Armageddon actually... the idea that Obama is gonna get credit for the economic recovery is gonna fall down on his head...

 

[syswizard]

Quote from cdcaveman:

Armageddon actually... the idea that Obama is gonna get credit for the economic recovery is gonna fall down on his head...

Dude, you know that level of collapse could potentially deflate almost all commodities, right ?
We might be talking $2 copper like in 2008 !

 

[cdcaveman]

Quote from syswizard:

Dude, you know that level of collapse could potentially deflate almost all commodities, right ?
We might be talking $2 copper like in 2008 !

well.. the frequency of bear markets seems to be aroudn 3 to seven years.. sometimes a little more.. we owe crap tons of money .. we elected a spender.. risk to me is down... inflation runs up commodities.. but not when demand hits the floor.. am i wrong.. are you taking positions?

 

[syswizard]

Quote from cdcaveman:

.. are you taking positions?

Gotta do it soon....I keep waiting for a "relief rally" to get short...but none has appeared in the past 3 weeks.

 

[syswizard]

DR Horton earnings news sparks weak rally in copper.
ITB homebuilder ETF sells off after a huge 6 month rally.

6 month charts show gold, silver and copper somewhat all tracking together.

 

[oldtime]

go down there to Douglas AZ, and count how many coils are coming across the border.

 

[syswizard]

Quote from oldtime:

go down there to Douglas AZ, and count how many coils are coming across the border.

Meaning copper is in demand ?
Or there is an oversupply from a black market ?

 

[oldtime]

Quote from syswizard:

Meaning copper is in demand ?
Or there is an oversupply from a black market ?

at one time it was a very hopping place. Now it is like a ghost town. But that is still where the copper from Mexico comes into the U.S.

You can still see some old mines on the US side down there, but they are not worked anymore and are vacant.

No, I know of no big copper on the black market.

You know how big a coil of copper is? It's like 42000 pounds. Kind of hard to sneak that around without getting caught.

But the recycling market is pretty crazy. You'd be surprised how much trash you throw away has copper in it. And really, that is one of the cheapest ways to get copper. All those trashed out semi trailers that are no longer road worthy have a lot of copper in them.